Markets tumble on credit fears (more like REALITY!!)

[elite_hunter_sh3]

http://news.bbc.co.uk/2/hi/business/7073882.stm

World markets have plunged amid renewed fears about the credit crisis, sending shares in finance firms sharply lower. On Wall Street the Dow Jones Industrial Average shed more than 360 points or 2.6%, after two leading banks were downgraded earlier in the day.
The UK's FTSE 100 saw its largest one-day drop since the height of the credit crunch in August, down 135.5 points or 2.02%.
Benchmark European stocks had also ended lower in both France and Germany.
The Paris-based Cac 40 dropped 2% and Frankfurt's Dax ended 1.7% lower.



http://newsimg.bbc.co.uk/shared/img/o.gif
MARKET DATA - 23:40 UK (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/overview/default.stm)

FTSE 100 (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/3/default.stm) 6586.1 http://newsimg.bbc.co.uk/shared/img/o.gif
Dax (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/18/default.stm) 7880.9 http://newsimg.bbc.co.uk/nol/shared/img/v3/md_down.gif -138.37 Cac 40 (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/1/default.stm) 5730.9 http://newsimg.bbc.co.uk/nol/shared/img/v3/md_down.gif -117.03 Dow Jones (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/2/default.stm) 13567.9 http://newsimg.bbc.co.uk/nol/shared/img/v3/md_down.gif -362.14 Nasdaq (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/12122/default.stm) 2794.8 http://newsimg.bbc.co.uk/nol/shared/img/v3/md_down.gif -64.29 S&P 500 (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/11826/default.stm) 1508.4 http://newsimg.bbc.co.uk/nol/shared/img/v3/md_down.gif -40.94 BBC Global 30 (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/29954/default.stm) 6088.6 http://newsimg.bbc.co.uk/shared/img/o.gif


all in the negatives... :dead::dead::nope:

[JSLTIGER]

Oil prices hitting $96+/bbl probably didn't help matters either. I don't know about you fellas, but I filled up the ol' Corolla this afternoon before the price spikes even higher.

[AVGWarhawk]

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.

[SUBMAN1]

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.Woo hoo! Another one in the debt free club.

One of the finiancial guys once said - Credit in America is normal. Be weird!

-S

[AVGWarhawk]

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.Woo hoo! Another one in the debt free club.

One of the finiancial guys once said - Credit in America is normal. Be weird!

-S

No way my man. I learned my lesson years ago. If I can not afford it with cash.... I do not need it.

[SUBMAN1]

Anymore good news? Luckly I dumped all credit cards and loans years ago. With exception of a mortgage, I owe nothing to any financial institution. People are credited up to their necks. It is a bad situation and hard to get out of.Woo hoo! Another one in the debt free club.

One of the finiancial guys once said - Credit in America is normal. Be weird!

-S
No way my man. I learned my lesson years ago. If I can not afford it with cash.... I do not need it.Exactly - that is why I said - Be weird! :D

-S

[P_Funk]

The sad thing is that many people cannot afford a decent living without the debt system. Getting ahead in our society involves mostly getting so grossly in debt that you're tied to it for decades. Student loans are especially bad I think. Just having to go that in debt to qualify yourself as competent in the work force... glad my parents give me a hand with that stuff.

[Torplexed]

I've seen some of these commercials recently where purchases are going smoothly with debit cards and such, until some fuddy-duddy wet blanket shows up and trys to pay with cash to a chorus of dirty looks. Gee...what message do you supppose are they trying to send? :hmm:

I try to keep the plastic's apperances as rare as possible these days.

[August]

Woo hoo! Another one in the debt free club.

Count me in that category. I have a credit card but i pay it off every month and no bank holds any paper on me.

[waste gate]

My only debt is a mortgage @5.375%. I own everything else.

[Skybird]

Be advised guys that all you credit-free people are terror-suspects. Because having no financial debts is one police criterion that makes you suspicious. It is normal to have debts, and to have no debts is not normal. If you are not normal, you are either inane, or vulnerable to becoming an extremist, or both. :lol:

I have no car. I wonder what this makes me suspicious of. :hmm: Wanting to murder the president, maybe? Oh look, I just found a CORRELATION! :rotfl:

---

Never no financial debts over here exceeding 50% of my monthly income.

[fatty]

Another member of the debt-free team here, I'm still young but I'm over 75% done my undergraduate education and don't owe a penny to anyone.

[STEED]

Invest in Gold and make a killing. :D

[Zayphod]

Woo hoo! Another one in the debt free club.

Count me in that category. I have a credit card but i pay it off every month and no bank holds any paper on me.

Same here - I always make sure I can pay off the card each month. Exceptions happen around Christmas time for all the obvious reasons, but other than that, I always manage to keep a clean slate as much as possible.

I also that that commercial where everyone gives the guy paying with cash a dirty look (HEY! You're holding things up!!!). I've never gotten an "odd" look when paying with cash, and would rip the lungs out of anyone that gave me one, too. :|\\

[Zayphod]

Invest in Gold and make a killing. :D

Wait!!! That sounds like a terrorist instruction. Yeah, buying gold = killing.... yeah, that's the ticket.

Yes, I'm being sarcastic - I know some govt watchdog is surfing the web and just picked up the keywords. :hmm:

[bradclark1]

Invest in Gold and make a killing. :D
Not now. It's at it's highest.

[Nightmare]

Add another person to the debt-free club minus the mortgage and a car payment and I’m fairly young still (28). I was always one of those people the always paid cash or with a debit card. I didn’t get my first credit card till I was 23 and it was mainly for building credit history. You know, buy something like gas with it every month and then pay it off the following month. Always had a balance but I always made sure the money was there to pay it off. However, when I got married I married a lot of a debt. Took a year and a half, but we got everything paid off.

I honestly don’t understand some my friends that are carrying thousands of dollars (one friend is carrying about 30K in credit card debit). You end up paying hundreds, if not thousands of dollars more due to paying interest and carrying it for so long. To me that's money better spent somewhere else.

[STEED]

Invest in Gold and make a killing. :D
Not now. It's at it's highest.

Yes a mate of mind saw what was coming and switched to gold, indeed he has done well. Lucky git.